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Check out the companies making headlines in afternoon trading. Netflix – The streaming stock rose nearly 11% after it topped fourth-quarter revenue estimates and reported strong subscriber growth. Late Tuesday, Netflix said it added 13.1 million subscribers during the period, bringing its total subscription count to 260.8 million. That’s ahead of the 256 million expected by analysts surveyed by StreetAccount. ASML – The semiconductor equipment stock surged more than 9%. ASML posted fourth-quarter results that beat Wall Street expectations on both the top and bottom lines. Net sales also increased 12.5% year over year. AT&T – The telecom stock fell nearly 3%. Revenue topped expectations and AT&T added more customers than expected, but the company forecast lower-than-expected adjusted earnings for 2024. Advanced Micro Devices – The chip stock rose 5.9% after being upgraded to buy by New Street Research. The company believes AMD datacenters are the best way to run artificial intelligence chips if the chipmaker’s forecast of a $400 billion market by 2027 holds true. Spotify – Spotify stock rose 2.1%. The company said Wednesday it will update its iPhone app in Europe to let users purchase in-app subscriptions and audiobooks. Texas Instruments – Shares fell 2.5% after the company reported weak advance earnings and revenue guidance. On Tuesday, Texas Instruments expected first-quarter earnings to fall between 96 cents and $1.16 per share, compared with a consensus estimate of $1.41 per share, per LSEG, formerly known as Refinitiv. Revenue is also expected to come in short, in a range of $3.45 billion to $3.75 billion, compared to estimates of $4.06 billion. The company reported a decline in fourth-quarter earnings, but missed the bottom line. SAP – The German software stock rose nearly 7%. SAP said Tuesday it plans to allow voluntary buyouts or job changes for 8,000 employees as part of a broader restructuring effort. The company said its number of employees should remain the same at the end of the year. DuPont de Nemours – The chemical stock fell nearly 14% after DuPont announced fourth-quarter results that fell short of analysts’ expectations. The company guided for fourth-quarter revenue of $2.90 billion, less than the $3 billion expected by analysts surveyed by FactSet. DuPont also issued weak first-quarter guidance, calling for adjusted earnings of between 63 cents and 65 cents per share, below the current expectation of 88 cents. Kimberly-Clark – Shares of the consumer products company fell more than 5.5% after Kimberly-Clark reported fourth-quarter results that fell short of expectations. The company reported adjusted earnings of $1.51 per share on revenue of $4.97 billion. Analysts surveyed by LSEG were expecting $1.54 a share on revenue of $4.98 billion. Kimberly-Clark’s operating margin declined year over year due to currency exchange costs. Eleven Health – Shares of Eleven Health topped Wall Street expectations, while health insurance subscriptions fell short of expectations. The company increased its dividend by 10% and offered strong guidance for the full year. Abbott Laboratories – The health care stock slipped 2.8% after the company reported earnings. Abbott posted adjusted earnings that were in line with the consensus estimate of analysts surveyed by FactSet at $1.19 per share. Elsewhere, Abbott reported revenue of $10.24 billion for the quarter, beating the $10.19 billion figure estimated by Wall Street. The firm also told investors to expect full-year adjusted earnings between $4.50 and $4.70 per share, a range that includes the analyst forecast of $4.63 per share. — CNBC’s Michelle Fox, Hakyung Kim, Lisa Kailai Han, Alex Haring, Tanaya Machel and Jesse Pound contributed reporting.
